0001752724-21-217721.txt : 20211014 0001752724-21-217721.hdr.sgml : 20211014 20211014115220 ACCESSION NUMBER: 0001752724-21-217721 CONFORMED SUBMISSION TYPE: N-CEN PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20210731 FILED AS OF DATE: 20211014 DATE AS OF CHANGE: 20211014 EFFECTIVENESS DATE: 20211014 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK MUNIYIELD PENNSYLVANIA QUALITY FUND CENTRAL INDEX KEY: 0000891038 IRS NUMBER: 223199516 STATE OF INCORPORATION: NJ FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: N-CEN SEC ACT: 1940 Act SEC FILE NUMBER: 811-07136 FILM NUMBER: 211322861 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: BLACKROCK MUNIYIELD PENNSYLVANIA INSURED FUND DATE OF NAME CHANGE: 20080620 FORMER COMPANY: FORMER CONFORMED NAME: BLACKROCK MUNIYIELD INSURED PENNSYLVANIA FUND DATE OF NAME CHANGE: 20070803 FORMER COMPANY: FORMER CONFORMED NAME: BLACKROCK MUNIYIELD PENNSYLVANIA FUND DATE OF NAME CHANGE: 20070611 N-CEN 1 primary_doc.xml X0404 N-CEN LIVE 0000891038 XXXXXXXX 811-07136 false false false N-2 BlackRock MuniYield Pennsylvania Quality Fund 811-07136 0000891038 O1KCIUJBK2RN0MOX1Z59 100 Bellevue Parkway Wilmington 19809 US-DE US 800-441-7762 State Street Bank and Trust Company 1 Lincoln Street Boston 02111 617-786-3000 Records related to its functions as custodian, sub-administrator and accounting agent BlackRock Investments, LLC 40 East 52nd St New York 10022 609-282-3046 Records related to its functions as distributor Computershare Trust Company, National Association 250 Royall Street Canton 02021 781-575-2000 Records related to its functions as transfer agent BlackRock Advisors, LLC 100 Bellevue Parkway Wilmington 19809 302-797-2000 Records related to its functions as advisor and administrator N N N-2 Y R. Glenn Hubbard N/A N John M. Perlowski N/A Y Stayce D. Harris N/A N Michael J. Castellano N/A N Lorenzo A. Flores N/A N Cynthia L. Egan N/A N Frank J. Fabozzi N/A N Karen P. Robards N/A N Richard E. Cavanagh N/A N W. Carl Kester N/A N J. Phillip Holloman N/A N Catherine A. Lynch N/A N Robert Fairbairn 004992372 Y Charles Park N/A 55 East 52nd Street New York 10055 XXXXXX N N N N N BlackRock Investments, LLC 8-48436 000038642 54930061FBHCKXL2G714 Y N Deloitte & Touche LLP 34 00000000000000000000 N N N N N N BlackRock MuniYield Pennsylvania Quality Fund O1KCIUJBK2RN0MOX1Z59 N 0 0 0 N/A Y N Y N BlackRock Investment Management, LLC 5493006MRTEZZ4S4CQ20 Y N Revenue sharing split Other Cash collateral reinvestment fee Rebates paid to borrowers N/A N/A Rule 32a-4 (17 CFR 270.32a-4) Rule 12d1-1 (17 CFR 270.12d1-1) Y Y N N BlackRock Advisors, LLC 801-47710 000106614 5493001LN9MRM6A35J74 N Computershare Trust Company, National Association 85-11340 2549001YYB62BVMSAO13 N N N ICE Data Services, Inc. 13-3668779 Tax ID N Bloomberg L.P. 549300B56MD0ZC402L06 N IHS Markit Ltd. 549300HLPTRASHS0E726 GB N Refinitiv US Holdings Inc. 549300NF240HXJO7N016 N N Barclays Capital Inc. AC28XWWI3WIBK2824319 N Y Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6) Citigroup Global Markets Inc. MBNUM2BPBDO7JBLYG310 N Y Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6) Credit Suisse Securities (USA) LLC 1V8Y6QCX6YMJ2OELII46 N Y Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6) State Street Bank and Trust Company 571474TGEMMWANRLN572 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) Goldman Sachs & Co. LLC FOR8UP27PHTHYVLBNG30 N Y Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6) Morgan Stanley & Co. LLC 9R7GPTSO7KV3UQJZQ078 N Y Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6) BofA Securities, Inc. 549300HN4UKV1E2R3U73 N Y Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6) N N BlackRock Advisors, LLC 5493001LN9MRM6A35J74 Y N State Street Bank and Trust Company 571474TGEMMWANRLN572 N Y N BlackRock Investments, LLC 8-48436 000038642 54930061FBHCKXL2G714 0.00000000 BlackRock Execution Services 8-48719 000039438 549300HFCRQ0NT5KY652 0.00000000 BofA Securities, Inc. 8-69787 000283942 549300HN4UKV1E2R3U73 1392.14000000 1392.14000000 Citigroup Global Markets Inc. 8-8177 000007059 MBNUM2BPBDO7JBLYG310 3393314.30000000 BofA Securities, Inc. 8-69787 000283942 549300HN4UKV1E2R3U73 13061071.20000000 Oppenheimer & Co. Inc. 8-4077 000000249 254900VH02JQR2L8XD64 6340882.55000000 Stifel, Nicolaus & Company, Incorporated 8-1447 000000793 5WUVMA08EYG4KEUPW589 2762966.00000000 BlackRock Liquidity Funds - MuniCash N/A N/A 549300RWBJ885673DL84 93206817.38000000 Jefferies LLC 8-15074 000002347 58PU97L1C0WSRCWADL48 3412384.55000000 Janney Montgomery Scott LLC 8-00462 000000463 549300QQRY1JCFQHYS08 2531770.85000000 National Financial Services LLC 8-26740 000013041 549300JRHF1MHHWUAW04 3443285.60000000 Wells Fargo Securities, LLC 8-65876 000126292 VYVVCKR63DVZZN70PB21 5387056.25000000 Deutsche Bank Securities Inc. 8-17822 000002525 9J6MBOOO7BECTDTUZW19 7233117.95000000 148370215.63000000 N 234272478.12846153 Preferred stock Variable Rate Demand Preferred Shares Common stock BlackRock MuniYield Pennsylvania Quality Fund N N Common stock N N N 0.58000000 1.48000000 16.23000000 16.64000000 true true MATERIAL AMENDMENTS 2 NCEN_811-07136_8845119450.htm mpa-g1bi.htm - Generated by SEC Publisher for SEC Filing

BLACKROCK MUNIYIELD PENNSYLVANIA QUALITY FUND

AMENDMENT TO THE AMENDED AND RESTATED

CERTIFICATE OF DESIGNATION DATED JUNE 17, 2019

ESTABLISHING AND FIXING

THE RIGHTS AND PREFERENCES OF
VARIABLE RATE DEMAND PREFERRED SHARES
(THE “CERTIFICATE OF DESIGNATION”)

            The undersigned secretary of BlackRock MuniYield Pennsylvania Quality Fund (the “Trust”), a business trust organized and existing under the laws of the Commonwealth of Massachusetts, hereby certifies as follows:

 

1.         The Board of Trustees of the Trust has adopted resolutions to amend the Certificate of Designation as follows:

 

a.         The definition of “Applicable Base Rate” in the Definitions section of the Certificate of Designation is hereby deleted and replaced in its entirety with the following as of June 29, 2021:

 

Applicable Base Rate” means, (i) with respect to a Rate Period of fewer than forty-nine (49) days, the greater of (a) the SIFMA Municipal Swap Index or (b) the LIBOR Rate, and (ii) with respect to a Rate Period of forty-nine (49) or more days, the LIBOR Rate.  If the Applicable Rate in respect of any Rate Period would otherwise be less than zero percent (0%), the Applicable Base Rate for such Rate Period will be deemed to be zero percent (0%).

 

            b.         The definition of “LIBOR Rate” in the Definitions section of the Certificate of Designation is hereby deleted and replaced in its entirety with the following as of June 29, 2021:

 

            “LIBOR Rate” means, on any Rate Determination Date, (i) the rate for deposits in U.S. dollars for the designated Rate Period, which appears on Reuters display page LIBOR01 (“Page LIBOR01”) (or such other page as may replace that page on that service, or such other service as may be selected by the LIBOR Dealer or its successors that are LIBOR Dealers) as of 11:00 a.m. London time, on the day that is the London Business Day preceding the Rate Determination Date (the “LIBOR Determination Date”), or (ii) if such rate does not appear on Page LIBOR01 or such other page as may replace such Page LIBOR01, (A) the LIBOR Dealer shall determine the arithmetic mean of the offered quotations of the Reference Banks to leading banks in the London interbank market for deposits in U.S. dollars for the designated Rate Period in an amount determined by such LIBOR Dealer by reference to requests for quotations as of approximately 11:00 a.m. (London time) on such date made by such LIBOR Dealer to the Reference Banks, (B) if at least two of the Reference Banks provide such quotations, the LIBOR Rate shall equal such arithmetic mean of such quotations, (C) if only one or none of the Reference Banks provide such quotations, the LIBOR Rate shall be deemed to be the arithmetic mean of the offered quotations that leading banks in The City of New York selected by the LIBOR Dealer (after obtaining the Trust’s approval) are quoting on the relevant LIBOR Determination Date for deposits in U.S. dollars for the designated Rate Period in an amount determined by the LIBOR Dealer (after obtaining the Trust’s approval) that is representative of a single transaction in such market at such time by reference to the principal London offices of leading banks in the London interbank market; provided, however, that if no LIBOR Dealer quotes a rate required to determine the LIBOR Rate, the LIBOR Rate will be determined on the basis of the quotation or quotations furnished by any Substitute LIBOR Dealer or Substitute LIBOR Dealers selected by the Trust to provide such rate or rates not being supplied by the LIBOR Dealer; provided further, that if the LIBOR Dealer and Substitute LIBOR Dealers are required but unable to determine a rate in accordance with at least one of the procedures provided above, the LIBOR Rate shall be the LIBOR Rate as determined on the previous Rate Determination Date.  If the number of days in a Rate Period shall be (i) seven or more but fewer than 21 days, such rate shall be the seven-day LIBOR Rate; (ii) 21 or more but fewer than 49 days, such rate shall be the one-month LIBOR rate; (iii) 49 or more but fewer than 77 days, such rate shall be the two-month LIBOR rate; (iv) 77 or more but fewer than 112 days, such rate shall be the three-month LIBOR rate; (v) 112 or more but fewer than 140 days such rate shall be the four-month LIBOR rate; (vi) 140 or more but fewer than 168 days, such rate shall be the five-month LIBOR rate; (vii) 168 or more but fewer than 189 days, such rate shall be the six-month LIBOR rate; (viii) 189 or more but fewer than 217 days, such rate shall be the seven-month LIBOR rate; (ix) 217 or more but fewer than 252 days, such rate shall be the eight-month LIBOR rate; (x) 252 or more but fewer than 287 days, such rate shall be the nine-month LIBOR rate; (xi) 287 or more but fewer than 315 days, such rate shall be the ten-month LIBOR rate; (xii) 315 or more but fewer than 343 days, such rate shall be the eleven-month LIBOR rate; and (xiii) 343 or more but fewer than 365 days, such rate shall be the twelve-month LIBOR rate.  If the Trust determines that adequate and reasonable methods no longer exist for ascertaining the LIBOR Rate as provided above, the Trust shall replace the LIBOR Rate with a substitute or successor rate that it determines in good faith to be a reasonably comparable index rate, provided that if the Trust determines that it is required to replace the LIBOR Rate and there is an industry accepted substitute or successor index rate, the Trust shall replace the LIBOR Rate with such index rate, and, without shareholder approval, amend or supplement this Certificate of Designation as provided in paragraph (a) of Section 13 of Part I of this Certificate of Designation accordingly to implement such replacement, including any conforming changes to Tenor and/or spread adjustments, as necessary.


 

 

            c.         The definition of “Tenor” is hereby added in the Definitions section of the Certificate of Designation as of June 29, 2021:

 

Tenor” means, as of any date of determination, the length of time associated with the LIBOR Rate being used or any index rate replacement for the LIBOR Rate in the instance that the Trust determines that adequate and reasonable methods no longer exist for ascertaining the LIBOR Rate.

 

2.         Except as amended hereby, the Certificate of Designation remains in full force and effect.

 

2

 


 

3.         An original copy of this amendment shall be lodged with the records of the Trust and filed with the Secretary of State of the Commonwealth of Massachusetts and in such other places as may be required under the laws of Massachusetts or as the Trustees deem appropriate.

 

[Signature Page Follows]

 

 

3

 


 

            IN WITNESS WHEREOF, I have hereunto set my hand as of this 29th day of June, 2021.

BLACKROCK MUNIYIELD PENNSYLVANIA QUALITY FUND

By: /s/ Jonathan Diorio______________  
       Name:  Jonathan Diorio
       Title:    Vice President

ATTEST:

/s/ Janey Ahn                                     
Name:    Janey Ahn
Title:      Secretary

 

 

[MPA Signature Page – Amendment to Certificate of Designation]

INTERNAL CONTROL RPT 3 NCEN_811-07136_6633281991.txt REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Shareholders and Board of Directors/Trustees of BlackRock MuniHoldings California Quality Fund, Inc., BlackRock MuniHoldings New Jersey Quality Fund, Inc., BlackRock MuniYield Michigan Quality Fund, Inc., and BlackRock MuniYield Pennsylvania Quality Fund: In planning and performing our audits of the financial statements of BlackRock MuniHoldings California Quality Fund, Inc., BlackRock MuniHoldings New Jersey Quality Fund, Inc., BlackRock MuniYield Michigan Quality Fund, Inc., and BlackRock MuniYield Pennsylvania Quality Fund (the "Funds"), as of and for the year ended July 31, 2021, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Funds' internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Funds' internal control over financial reporting. Accordingly, we express no such opinion. The management of the Funds is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of a company's assets that could have a material effect on the financial statements. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions or that the degree of compliance with the policies or procedures may deteriorate. A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company's annual or interim financial statements will not be prevented or detected on a timely basis. Our consideration of the Funds' internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the Funds' internal control over financial reporting and its operation, including controls for safeguarding securities, that we consider to be a material weakness, as defined above, as of July 31, 2021. This report is intended solely for the information and use of management and the Board of Directors/Trustees of the Funds and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties. /s/Deloitte & Touche LLP Boston, Massachusetts September 21, 2021